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Obama Warns Trump Tariffs Will Raise Everyday Prices

By Drooid · Oct 28, 2026, 02:25 UTC · How we work

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Summary

Barack Obama rallied in Cleveland, Ohio, on Oct. 24, 2026, backing Sherrod Brown and Amy Acton.
He warned President Donald Trump’s tariffs raise everyday prices, even for U.S.-built cars with imported parts.
Obama said the war on Iran inflates oil and diesel costs by disrupting Strait of Hormuz shipping.
He called the Nov. 3 midterms a ‘circuit breaker’ that could curb President Donald Trump’s power and chaos.

History

In October 1973 OAPEC, led by Saudi Arabia, imposed an oil embargo on the United States and other Israel supporters, driving the global price of crude from $3 to about $12 per barrel—a rise of roughly 300 %. The shock triggered a recession, spurred Nixon’s Project Independence, and reshaped energy policy, a backdrop for today’s tariff and Middle-East tensions.

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Historical Context

In October 1973 OAPEC, led by Saudi Arabia, imposed an oil embargo on the United States and other Israel supporters, driving the global price of crude from $3 to about $12 per barrel—a rise of roughly 300 %. The shock triggered a recession, spurred Nixon’s Project Independence, and reshaped energy policy, a backdrop for today’s tariff and Middle-East tensions.

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